IPF shares up as profit falls

 
Michael Bow
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CREDIT firm International Personal Finance yesterday announced a drop in profits after an increase in early settlement rebates in the Czech Republic and Slovakia region.

The group reported a fall in underlying pre-tax profits to £31.4m, down from £35.7m last year.

Profits from the Czech-Slovakia region were down 28 per cent due to a £4.9m loss attributed to high early settlement rebates and weak foreign exchange rates.

Shares in the FTSE 250-listed firm closed 8.2 per cent higher.